Market Analysis For Butterfly
1.1 Introduction
Just only few years ago people of Bangladesh was not so familiar with the generator or even with the motorcycles. At that time to them these were luxurious product. But in the last few years the scenario has changed completely. Generator or motorcycle is no longer luxurious product to them. Rather than they treat these as their basic necessity. This change has encouraged companies to invest in making generators and motorcycles. But only production is not enough for the success of products. A well designed marketing strategy, strategic planning and effective implementation of strategies can ensure a healthy sales revenue and thus satisfactory market share.
1.2 Background of the company
Butterfly marketing limited is a Bangladeshi company which started their journey in 1987 with only 3 showrooms. Since then their main focus was on product quality and after sales service. As because of this it is experiencing tremendous growth and now it has 128 showrooms in Bangladesh. Butterfly operates only in Bangladesh. It merged with LG and is selling Korean and Chinese products. Butterfly is currently selling TV, refrigerator, deep freeze, generator, IPS, motorcycle, vacuum cleaner, air purifier, dish washer etc. In most of their product they have achieved very competitive position. Butterfly is the market leader in the electronic goods like television, computer monitor, air conditioner, refrigerator etc. This means that they have created goodwill and brand value in consumers mind. Now their objective is to achieve success with their generator and motorcycle.
Butterfly has 2 types of sales policy and these 2 are credit sales and cash sales. But it mainly focuses on the credit sales. It has divisional warehouse and from these warehouse it supplies product to different branches. Divisional warehouse make product of butterfly available and ensures low inventory and holding cost.
1.3...
View Full Essay